Iraq Announces Imminent Launch of New Strategic Steel Project

The Ministry of Industry and Minerals is preparing to launch the second phase of a vital strategic project aimed at developing the country's steel industries. The project focuses on enhancing local rebar production and providing various types and sizes to meet the increasing local market demands. Ahmed Hamed Zain El Din, Director General of the General Company for Steel Industries at the Ministry, explained that the rolling and continuous casting project for steel industries consists of two phases. The first phase included the continuous arc casting project, whose production lines were developed and modernized in May 2024, utilizing the latest available technologies and methods. This significantly boosted its operational capacities. Zain El Din stated that the project currently produces 600,000 tons annually of "billet," which is considered the primary and essential material needed for operating the rolling project. He emphasized that providing this material locally will support the production chain and reduce reliance on importing raw materials used in rebar manufacturing. Regarding the second phase of the project, Zain El Din indicated that it will be inaugurated soon and will enable the production of rebar in various sizes required by local markets, ranging from 8 to 44 mm, with a production capacity of up to 400,000 tons annually. This phase will also include the production of approximately 200,000 tons annually of industrial iron. He stressed that this project represents a pivotal step to support the industrial sector and increase its capacity to meet a significant portion of the local demand for iron products. It will also enhance the presence of national industry in the local market with a product that complies with required specifications, reducing reliance on imported products. Zain El Din pointed out that the operation of the project across all its phases will not only increase local production but will also contribute to stimulating sectors associated with the iron and steel industry. He affirmed the company's commitment to completing all necessary technical and operational requirements for the project, in preparation for the start of commercial production, in line with government plans aimed at rehabilitating and operating industrial projects and increasing the production capacities of public companies.